UK-based tech startup could become Nvidia of quantum

Quantum solutions firm Riverlane recently closed a $75 million Series C fundraiser off the strength of its “error-correction” stack, a service that could potentially benefit the entire quantum computing industry. 

Riverlane has quietly become one of the most well-positioned startups working at the intersection of science and technology. It was the only quantum firm selected to Tech Nation’s Future Fifty 2024, a cohort picked specifically for their potential to become tech unicorns. And its latest funding round has brought its total funds raised/awarded to a reported $122 million and counting.

The C round was led by Planet First Partners. Additional participants included ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners, the UK's National Security Strategic Investment Fund, and Altair.

Error correction

Errors are the bane of the quantum computing industry. Whenever you see a pundit or scientists claim that quantum computers still aren’t “useful,” they typically mean they’re not fault tolerant.

Basically, quantum computers perform calculations via a quirky phenomenon called superposition. The simple explanation is that units of quantum information exist in multiple states — like a coin spinning in the air — and we can’t know what state they’ll be in until we measure them.

The problem with qubits is that the tiniest perturbation can cause them to lose information. This is called an error or a fault and stopping, correcting, or compensating for them is one of the most difficult challenges in the field of quantum computing.

Riverlane

Riverlane’s solution involves a chip and software stack called Deltaflow. According to the company, today’s quantum systems can perform thousands of quantum operations before errors become unmanageable.

Per the company, this needs to scale into the millions and, eventually, trillions “for quantum computers to fulfil their vast potential.”

The company’s proprietary error-correction chips and decoder and orchestrator software suite is specifically designed to approach this problem.

Much like Nvidia’s graphical processing units (GPUs) have become an integral part of most generative AI training stacks, Riverlane’s error-correction chips and stack could find a lucrative position in the quantum computing market as it matures.